Python already replaced Excel in banks

(Last Updated On: November 6, 2019)
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If you are an old school trader using a tool like Excel for analysis, you may be forced to use Python. Here are some topics that this career article will highlight:

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If you are an old school trader using a tool like Excel for analysis, you may be forced to use Python.

“Python already replaced Excel,” said Matthew Hampson, deputy chief digital officer at Nomura, speaking at last Friday’s Quant Conference in London. “You can already walk across the trading floor and see people writing Python code…it will become much more common in the next three to four years.”…

As we reported previously, Hampson runs Nomura’s new and growing e-trading strategy team, which was formed in May 2019. The team is tasked with increasing Nomura’s fixed income trading revenues by 15% through the integration of artificial intelligence into the bank’s systematic market making platform…

Hampson’s comments come amid suggestions that Excel is in danger of dying out as sheets can be imported into Python where the computation is much quicker….

“I can run an Excel model with a several hundred interlocking formulas and a data table that has 50,000 rows and 100 columns and it takes 15 min to update,” said one contributor to Wall Street Oasis last month. “Or, I can run a Python based model with thousands of interlocking corelation points and an underlying data structure that has 10,000,000 rows and 1,000 data attributes. Not to mention I can write scripts to infer missing data points. All of this can be done in about a second.”…

Future traders will have hybrid skills covering finance, quantitative knowledge and the ability to automate processes and extract data, said Hampson. Today’s top traders already have, “much more universal skillsets – they understand data, they understand finance, they understand how to code. That brings an agility that you didn’t see until about five years ago.”…

PMorgan is arming members of Hans Buehler’s 180-strong ‘Analytics, Automation & Optimization’ team with trading licenses as the quants break into trading. ..

This is why you need start looking at the Quant ELITE membership. 3 year term is still available but it will not last !

Thanks Bryan


NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at